Private equity firm Carlyle Group has sold a further 10 million shares in US government-focused management and technology consultancy Booz Allen Hamilton raising US$230.7m.
The transaction is part of a series of stock sales that the sponsor has…
Private equity firm Carlyle Group has sold a further 10 million shares in US government-focused management and technology consultancy Booz Allen Hamilton raising US$230.7m.
The transaction is part of a series of stock sales that the sponsor has undertaken over the past year, reducing its majority stake in the consultancy from 69% to 45.7%.
This latest offering saw Carlyle sell 10 million shares at US$23.07 per share, a slight discount to the last reported sale price of Booz’s Class A common stock on the New York Stock Exchange of US$23.97.
The shares represented a 7% stake in Booz and cut Carlyle’s holding in the company from 52.7% to 45.7%.
Citigroup and Barclays were lead arrangers and underwriters on the offering.
Carlyle acquired Booz Allen’s government-consulting business in a US$2.5bn LBO back in mid-2008. In late 2010, Booz was listed on the NYSE and the sponsor cut its stake to 69%.
